OptimumBank (NASDAQ:OPHC) Downgraded by Zacks Research to “Hold”

Zacks Research lowered shares of OptimumBank (NASDAQ:OPHC) from a strong-buy rating to a hold rating in a research report sent to investors on Monday,Zacks reports.

Separately, Alliance Global Partners reissued a “buy” rating on shares of OptimumBank in a research report on Friday, August 14th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, OptimumBank presently has a consensus rating of “Moderate Buy” and a consensus price target of $6.67.

OptimumBank Stock Performance

OPHC opened at $9.17 on Monday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.12 and a quick ratio of 1.12. The business has a fifty day simple moving average of $8.96 and a 200 day simple moving average of $6.66. OptimumBank has a 1 year low of $3.92 and a 1 year high of $10.68. The company has a market capitalization of $115.74 million, a PE ratio of 6.95 and a beta of 0.31.

Institutional Trading of OptimumBank

A number of hedge funds and other institutional investors have recently modified their holdings of OPHC. Wellington Management Group LLP bought a new position in shares of OptimumBank during the second quarter valued at $2,521,000. Renaissance Technologies LLC grew its stake in shares of OptimumBank by 13.1% in the first quarter. Renaissance Technologies LLC now owns 124,600 shares of the bank’s stock worth $635,000 after purchasing an additional 14,400 shares during the last quarter. BlackRock Inc. bought a new stake in shares of OptimumBank in the second quarter worth $219,000. Finally, Globeflex Capital L P acquired a new stake in OptimumBank in the second quarter valued at $89,000. Institutional investors own 7.43% of the company’s stock.

OptimumBank Company Profile

OptimumBank is a community bank headquartered in Fort Lauderdale, Florida. Through its banking operations, the company provides financial products and services to individuals, businesses and professional customers in South Florida.

The bank’s offerings include deposit accounts, checking and savings products, certificates of deposit, online banking and other traditional consumer banking services. Its lending activities include commercial real estate loans, business financing, residential real estate loans and consumer loans.

OptimumBank was established in 2000 and has focused on serving the South Florida market through relationship-based banking.